Cash Cattle Market Steps Back
Cash cattle markets backed up last week from a steady upward movement due to a boiler explosion, and the three days of unexpected downtime at Cargill’s Dodge City plant. Reports indicate the plant should be up and running on Monday the 21st.
The downtime with Cargill reduced the number of cattle needed by packers in the cash market. The best bid of $108 was the most offered in the south. The north was able to keep their cash market at $111 and dressed cattle brought $173-$175.
The cash market has an opportunity to recover back to previous bids of $109 or better, if Cargill has their Dodge City plant back in production early this week. Packers want as many high grading cattle around them as possible as the the choice select spread continues to stay wide. The need for higher grading cattle only becomes more important as holiday rib season gets closer.
